Results tagged “consumerconfidence”

According to the Reuters/University of Michigan Surveys of Consumers, consumer confidence has fallen sharply, even lower than what economists predicted. The study's "index reading of confidence for February tumbled to 56.2 from 61.2 in January"—which is even worse than the reading in November "when U.S. stocks hit 11-year lows during one of the worst periods of the current financial crisis." (A median of 61 points was expected.) Plus another reading finds that consumer expectations are at the lowest level since and about two-thirds of people think the recession will last five more years.

Of course, the continued high cost of fuel remains a brake on the economy. And if there's one thing that financial markets abhor, it is uncertainty. With the Presidential election eleven months off and a wide variety of candidates bandying about different economic proposals, it becomes difficult for investors to plan for or around what the future may hold. In short, hang on. As one analyst for Standard & Poor's wrote in a research note that was quoted in the Times, "The best investment may be in aspirins and a neck brace."